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Transaction automation techniques enable healthcare organizations to cutoperational costs significantly by integrating validation, error reporting,automated alerting, online correction of enrollments, claims, & payments, andreal-time business intelligence for all healthcare electronic transactions.
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"National and regional health plans are realizing the tremendousadvantages available to them when they can capture detailed transactionalinformation and use it to generate a very broad, clear and objective pictureof their operation," said Robert Fisher, Foresight CEO. "More health plansare recognizing the profound impact of this approach which has saved someorganizations millions of dollars in first-year costs alone."
Major health plans using Foresight's Transaction Insight now includeWellPoint Inc., Coventry Health Care, Independent Health Association Inc.,Kaiser Foundation Hospitals, Arizona Health Care Cost Containment System (AZMedicaid), Blue Cross Blue Shield of Nebraska, New York State Catholic HealthPlan, and others.
Now in its fourth year of mission-critical production usage, TransactionInsight has been extended to provide a central monitoring/reporting facilityand repository for status information from adjudication, translation,clearinghouse, and other systems to bridge the gap between the ITinfrastructure and the business demands for timely, high-value information.
As the market is growing more sophisticated and specific about itsrequirements, the recent spike in demand reflects recognition among payersthat this technology can be used to solve multiple operational challenges asan integral, reliable part of the IT/Business infrastructure. Foresight'scollaborative investment with its customers has positioned Transaction Insightas the only transaction automation solution successfully deployed.
This customer base collaboration has also resulted in co-creation of newextensions to Transaction Insight that solve operational and reportingproblems that emerge as organizations undertake infrastructure modernization.
About Foresight Corporation
Foresight is driven by a passion for co-creation, working hand-in-handwith customers to solve today's issues and anticipate tomorrow's challenges.Foresight learns a customer's business goals in detail, then works closely todeliver exactly-right solutions. Years of both business and technicalexperience power a dynamic approach that is unique; the body of knowledgeaccumulated from working with industry leaders ensures Foresight developsbusiness solutions that are intuitive to the business processes-and thepeople-they're designed to support.
The Transaction Insight platform is used by leading healthcare payers andBCBS plans nationwide to provide insight into business operations whileshortening revenue cycles, reducing administrative costs, and improvingprovider relations. For almost 20 years, Foresight has helped customers buildstandards-compliant networks, address mandates like HIPAA and NPI, connectpartners, validate transactions, and secure operational efficiencies. For moreinformation, visit www.ForesightCorp.com or call 1.888.500.0800.
Transaction Insight is a registered trademark of Foresight Corporation.
SOURCE Foresight Corporation
